Australia's Kip McGrath soars on takeover bid from Crimson Education

Kip McGrath Education Centres

30/07/2026 05:50

** Shares of Kip McGrath Education Centres KME.AX advance as much as 57.8% to A$0.710, marking their biggest intraday pct gain since late Aug 2009
** Shares hit their highest level in three and a half years 
** Education services provider receives takeover approach from Crimson Consulting Australia, Australian arm of New Zealand-based Crimson Education, valuing the company at A$38.3 million ($26.63 million)
** Offer represents a 62.2% premium to co's last close 
** Over 836,000 shares change hands, about 16.2x the 30-day average
** Stock up ~18% YTD, including session's moves 
     
($1 = 1.4382 Australian dollars)

(Reporting by Subhalakshmi Dey in Bengaluru)
((Subhalakshmi.Dey@thomsonreuters.com;))